Craig Jr. Courtemanche Sells 75,000 Shares of Procore Technologies (NYSE:PCOR) Stock

Procore Technologies, Inc. (NYSE:PCOR) Chairman Craig Jr. Courtemanche sold 75,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the completion of the sale, the chairman owned 1,155,480 shares of the company’s stock, valued at $84,003,396. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Procore Technologies Price Performance

Shares of PCOR stock opened at $74.38 on Friday. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $74.13 and its 200-day moving average is $71.06. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of -88.55 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share for the quarter. Procore Technologies had a negative net margin of 9.84% and a negative return on equity of 6.18%. The company had revenue of $172.21 million during the quarter. Sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PCOR shares. Piper Sandler boosted their target price on Procore Technologies from $82.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Wall Street Zen raised Procore Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. BTIG Research reaffirmed a “buy” rating and issued a $88.00 target price on shares of Procore Technologies in a research note on Wednesday. Robert W. Baird lifted their price target on shares of Procore Technologies from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.

Institutional Trading of Procore Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Procore Technologies by 23.6% during the third quarter. Versant Capital Management Inc now owns 938 shares of the company’s stock worth $68,000 after acquiring an additional 179 shares in the last quarter. Jones Financial Companies Lllp increased its position in Procore Technologies by 70.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares in the last quarter. Intellectus Partners LLC lifted its stake in Procore Technologies by 1.6% in the 3rd quarter. Intellectus Partners LLC now owns 12,505 shares of the company’s stock valued at $912,000 after purchasing an additional 200 shares during the last quarter. George Kaiser Family Foundation lifted its stake in Procore Technologies by 1.0% in the 2nd quarter. George Kaiser Family Foundation now owns 23,168 shares of the company’s stock valued at $1,585,000 after purchasing an additional 240 shares during the last quarter. Finally, TFB Advisors LLC boosted its position in Procore Technologies by 8.1% in the first quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock valued at $234,000 after buying an additional 264 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.